Property Type

Northmarq Brokers Sale of 352-Unit Apartment Community in Charlotte

by John Nelson November 18, 2022

CHARLOTTE, N.C. — Northmarq has arranged the sale of Tapestry University City, a 352-unit multifamily community located on 17 acres at 5340 Periwinkle Hill Ave. in Charlotte. The community features apartment homes in one-, two- and three-bedroom layouts. Amenities include a dog park, pet washing station, pool deck, clubroom, cyber café, fitness center, electric vehicle charging stations, a yoga and spin studio, grilling station and bike racks. Andrea Howard, John Currin, Allan Lynch, Caylor Mark and Jeff Glenn of Northmarq represented the sellers, Arlington Properties and Glenmont Capital Management, in the transaction. Faron Thompson, David Vinson and Grant Harris of Northmarq originated a fixed-rate Fannie Mae acquisition loan. The buyer, sales price and loan amount were not disclosed.

November 18, 2022

Leasing Activity Office Texas

Spectrum Signs Office Lease Renewal, Expansion in San Antonio

by Taylor Williams November 18, 2022

SAN ANTONIO — Global telecommunications provider Spectrum has signed an office lease renewal and expansion at Crosswinds Business Park in northeast San Antonio. The tenant is taking an additional 19,808 square feet of space at Building B, which brings that structure to full occupancy. Charlie Weil and Luis Garza of Transwestern represented the landlord, Briar Meads Capital, in the lease negotiations. CBRE represented Spectrum.

November 18, 2022

Acquisitions North Carolina Office Southeast

CBRE Arranges Sale of 176,601 SF Northchase at Midtown Office Park in Raleigh

by John Nelson November 18, 2022

RALEIGH, N.C. — An entity doing business as JPB Raleigh Holdings LLC has sold Northchase at Midtown, an office park comprising two buildings totaling 176,601 square feet at 6501 and 6601 Six Forks Road in Raleigh. Ben Kilgore, Chandler Hawkins and Leslie Holmes of CBRE, along with with NAI Tri Properties’ Jimmy Barnes, represented the seller in the transaction. Rachael Gaston and Sesha Debnam of Debnam Commercial Real Estate represented the buyer, local investor Dean Debnam. The sales price was not disclosed. Fully renovated in 2014 and 2015, Northchase at Midtown was 95 percent leased at the time of sale to companies including Merz North America, Globant, Redline and HITT Construction.

November 18, 2022

The-District-Berkeley-Heights-New-Jersey

Development Multifamily New Jersey Northeast Retail

Connell Co. Unveils Plans for Expansion at The Park in Berkeley Heights, New Jersey

by Taylor Williams November 18, 2022

BERKELEY HEIGHTS, N.J. — Connell Co. has unveiled plans for expansion at The Park, a 185-acre mixed-use campus in the Northern New Jersey community of Berkeley Heights. The latest phase of The Park will be known as The District and will comprise five new buildings that will house 328 multifamily units and 190,000 square feet of retail, restaurant and entertainment space. The two multifamily buildings will total 179 and 149 units and will both feature a variety of indoor and outdoor amenities. The first of the three retail buildings will encompass 81,715 square feet and will be fully dedicated to entertainment. End users within this structure, which will also house a covered garden and event space, will include a brewery, Mexican restaurant, Italian steakhouse and a duckpin bowling concept. The other retail buildings will total 30,515 and 25,755 square feet. The District will also feature various pocket parks and open green spaces. Completion is slated for 2025.

November 18, 2022

Development Multifamily New York Northeast

Rose Associates, Battery Global Top Out 440-Unit Apartment Building in Yonkers

by Taylor Williams November 18, 2022

YONKERS, N.Y. — A partnership between locally based developer Rose Associates and asset management firm Battery Global Advisors has topped out Alexander Crossing, a 440-unit apartment building located north of New York City in Yonkers. Designed by Perkins Eastman and built by Callahan Construction Managers, Alexander Crossing is a seven-story, 600,000-square-foot building. The property will feature studio, one- and two-bedroom units and amenities such as a heated outdoor pool, fitness center, outdoor grilling and dining areas, game room, coworking lounge and a multi-sport simulator. The development team plans to deliver units in phases over the course of 2023.

November 18, 2022

Development Industrial New York Northeast

Rockefeller Group Nears Completion of 172,622 SF Spec Industrial Project on Long Island

by Taylor Williams November 18, 2022

BAY SHORE, N.Y. — New York City-based investment and development firm Rockefeller Group is nearing completion of a 172,622-square-foot speculative industrial project located at 55 Paradise Lane in the Long Island community of Bay Shore. Building features include a clear height of 36 feet, 40 dock doors, two overhead doors and parking for 270 vehicles. Completion is slated for spring 2023. KSS Architects designed the project, and Aurora Contractors is serving as the general contractor. Huntington is the civil engineer. JLL has been tapped to lease the development.

November 18, 2022

Acquisitions Northeast Pennsylvania Retail

Colliers Arranges Sale of 41,311 SF Ferrari Philadelphia Car Dealership

by Taylor Williams November 18, 2022

BRYN MAWR, PA. — Colliers has arranged the sale of Ferrari Philadelphia, a 41,311-square-foot car dealership located on the city’s northwestern outskirts in Bryn Mawr. The property comprises a 36,314-square-foot sales and service building and a 4,997-square-foot repair building across the street. An affiliate of Piazza Auto Group purchased Ferrari Philadelphia from an affiliate of RDS Automotive for an undisclosed price. Rich Weitzman of Colliers brokered the deal.

November 18, 2022

Acquisitions Industrial New Jersey Northeast

Woodmont Industrial Buys 30,000 SF Warehouse, Distribution Center in Lyndhurst, New Jersey

by Taylor Williams November 18, 2022

LYNDHURST, N.J. — Woodmont Industrial Partners, a joint venture between local investment firm Woodmont Properties and Romark Logistics, has purchased a 30,000-square-foot warehouse and distribution center in Lyndhurst. Located at 2 Terminal Road in the northern part of the Garden State, the building features a clear height of 18 feet, two loading docks and two drive-in doors. The seller and sales price were not disclosed.

November 18, 2022

Development Michigan Midwest Mixed-Use

Related Cos., Olympia Development Propose $1.5B Mixed-Use Project in District Detroit

by Kristin Harlow November 18, 2022

DETROIT — Related Cos. and Olympia Development of Michigan have proposed a $1.5 billion mixed-use project at The District Detroit, a sports and entertainment development spanning 50 blocks in downtown Detroit. The companies have begun a Community Benefits Ordinance (CBO) process with the City of Detroit, marking the next phase of plans to build new office, retail, residential with affordable housing, hotel and public space across 10 properties. The first meeting for residents in the areas surrounding the development will take place Tuesday, Nov. 29. The proposed development includes the construction of six new buildings and the renovation and adaptive reuse of four historic buildings. The type of development reflects initial feedback from the community, including more than 250 community engagement meetings to date, which will continue through the city-led CBO process. The new projects would include 695 mixed-income residential units, 20 percent of which would be reserved for those who earn up to 50 percent of the area median income, as well as 1.2 million square feet of office space, 100,000 square feet of retail space and 467 hotel rooms.

November 18, 2022

Development Illinois Industrial Midwest

Peak Underway on Construction of 1 MSF Spec Industrial Building in Joliet, Illinois

by Kristin Harlow November 18, 2022

JOLIET, ILL. — Peak Construction Corp. is underway on a 1 million-square-foot speculative building at NorthPoint Development’s Third Coast Logistics Park in Joliet. The facility will feature a clear height of 40 feet, 103 dock doors, four drive-in doors and 264 trailer parking stalls. Peak will also construct a second speculative building at the industrial park. Plans call for a 1.2 million-square-foot facility with a clear height of 40 feet, 120 dock doors, four drive-in doors and 247 trailer parking stalls. Completion of both buildings is slated for fall 2023. The project team includes architect studioNorth Architecture and civil engineer Jacob & Hefner Associates.

November 18, 2022

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